IPL Desk in Mumbai
21 November 2012 - 03:59pm IST
The BCCI Marketing Committee met today to open the tender for the rights to be title sponsor of the IPL for the five seasons commencing in 2013.
Two eligible bids were received and Dr Farooq Abdullah, Chairman of the Marketing Committee, announced that the rights had been won by PepsiCo with a bid of Rs.396.8 crore over the five seasons.
Dr Abdullah commented “the BCCI is very pleased to welcome PepsiCo as a central partner of the IPL. The value of the winning bid reflects the growth and success of the IPL ”.
IPL Governing Council Chairman, Rajeev Shukla added “PepsiCo are one of the largest sponsors in world sport and we look forward to working with them over the next seasons. I would also like to take this opportunity to thank DLF for its confidence in the IPL to become the league’s first title sponsor in 2008.”
PepsiCo’s bid is double the 200 crore paid by DLF in the first five seasons of the IPL